$LTC

Litecoin (LTC) has attracted a lot of attention in the cryptocurrency market recently for the following reasons:

1. Spot ETF Application:

Issuer Canary has submitted an application for a Litecoin spot ETF to the U.S. Securities and Exchange Commission (SEC).

This move may provide investors with a more convenient investment channel and further boost the market demand for Litecoin.

Influenced by this news, the price of Litecoin rose by about 7.45% in a short period of time to US$72.5. 

2. Halving event:

On August 3, 2023, Litecoin underwent its third halving, with the block reward reduced from 12.5 LTC to 6.25 LTC.

The halving is generally seen as bullish news as the reduction in supply can push prices higher. However, after this halving, the price of Litecoin did not rise significantly, but fell instead. 

3. Hashrate growth:

Before the halving, Litecoin’s hashrate continued to rise, showing miners’ confidence in the network.

Before the halving, the computing power had exceeded 700 TH/s and was growing steadily. 

4. Long-term price prediction:

Some analysts point out that based on historical cycles, Litecoin could reach a high of $65,000 to $100,000 in October 2025.

However, this is only a forecast and the actual situation may be affected by many factors. 

5. Market reaction:

Although the halving event failed to significantly boost prices, Litecoin still attracted a lot of attention.

The recent price rebound shows that investors are optimistic about its future. 

LTC current price:

Overall, Litecoin’s recent developments show that it is still alive and well in the market.

Investors should pay close attention to relevant events and market developments to formulate wise investment strategies.